Group AD&D Insurance

Exclusively for members of the National Association of REALTORS®

group ad&d logo

Accidents happen. While it may be just a fender bender or small slip, sometimes unforeseen tragedy can happen. This new insurance protection from the National Association of REALTORS® can give you comfort knowing your loved ones are protected when you may need it most.

REALTORS® Group AD&D Insurance is available to members with guaranteed acceptance plus options designed just for REALTORS®. This program is offered through the National Association of REALTORS® Benefit Program and is underwritten by New York Life Insurance Company.

New York Life Insurance Company has a proven reputation. As of today, New York Life has received the highest financial strength ratings* currently awarded to any U.S. life insurer. Plus with over  175 years as a mutual life insurance company, New York Life has demonstrated its commitment to serving its customers when they need it most.

REALTORS® Life Insurance Products

Coverage backed by New York Life Insurance Company, designed for NAR Members

With over 175 years of helping people act on their love, New York Life Insurance Company is the exclusive provider of life insurance for members of the National Association of REALTORS®.

  • A++ AM Best
  • AAA Fitch Ratings
  • Aaa Moody’s
  • AA+Standard & Poors

*Source: Individual Third-Party Ratings Reports as of 10/19/23

Why Group AD&D?

Accidental Death and Dismemberment insurance can provide you and your family with added protection while keeping to a budget. With this insurance, you are covered for specific events. If you die due to a covered accident, a death benefit is paid to your chosen beneficiaries. Additionally, if you suffer a severe injury involving dismemberment, a benefit is paid directly to you. These funds can help provide financial protection for you or those you love when it may be needed it most.

Plus, there is no medical review needed. As long as you are an NAR member under age 60, you will be approved. Plus, once you have your coverage, it stays with you regardless of where you work. Unlike employer offered insurance, you keep your insurance should you change your brokerage or retire.

Highlights and Benefits

At the heart of this insurance is your family. Coverage is available to you, your spouse and children. Available only to members, you and your spouse must be under age 60 to apply and children must be under age 19 or under age 25 if a full-time student. There are a host of added benefits to help cover many aspects of continuing your family’s lifestyle.

Benefits amounts begin at $50,000 through $500,000. You decide what benefit fits your lifestyle. And you decide who receives the death benefit should you die.

Family Coverage Amounts

The added family benefits can make this coverage a wise choice. When choosing to add dependents, their eligible amount is based on your, the member’s, benefits. Here’s how it works:
You add your spouse only: 60% of member selected benefit.
You add your child(ren) only: 15% of the member selected benefit.
You add both your spouse and child(ren): 50% for spouse, 10% for child(ren) of member selected benefit.

30-Day Free Look

Once approved for coverage, you’ll receive a Certificate of Insurance and have 30 days to review it. If you decide this plan isn’t for you, just return your Certificate without claim. Your coverage will be invalidated and you will be sent a full refund – no questions asked.

Additional Benefits

In addition to covered losses, you could receive additional monies for the following:

Spouse Critical Period

If either you (the NAR member) or your spouse dies as a result of a covered accident, the survivor will receive additional monthly payments equal to 1% of the deceased’s Principal Sum. These payments will be made until the earlier of six months or the survivor’s death.

Education Benefit

If the benefit for loss of life is payable for you, and your dependents are covered by this on the date of the accident, this coverage will pay an education benefit equal to the lesser of 2% of your Principal Sum payable or $2,500 or the actual amount of the tuition charge for 1 year, payable up to four consecutive years, for each insured dependent who is enrolled (or enrolls within 365 days of the accident) as a full-time student at an institution of higher learning (college, university or trade school). In addition, if no insured spouse or child qualifies for this benefit following the covered loss of the member’s life, a lump sum benefit of $500 will be payable.

Day Care Benefit

If your children, under age 13, are enrolled in a Day Care program at the time of death as a result of a covered accident, a benefit equal to the lesser of 5% of your Principal Sum, or $2,500, or the actual Day Care costs for one year, is payable. The benefit is paid each year for each child who qualifies, up to four Day Care Benefits will be paid for each child. If you have no child eligible for this benefit at the time of the covered loss, a benefit of $500 will be paid. Proof of enrollment is required and outlined in the Certificate of Insurance.

Common Carrier Benefit

If the insured incurs a covered loss as a result of an accident while a passenger on a licensed common carrier (train, bus, etc.), an additional $25,000 benefit will be payable.

Seat Belt Benefit

If an insured person is involved in an automobile accident in which he/she was properly wearing a seatbelt, and dies within 180 days as a direct result of that covered accident, the beneficiary can receive an additional amount which is the lesser of $25,000 or 10% of the Principal Sum payable.

Rehabilitation Benefit

Rehabilitation training can help regain former productivity following an accident. This benefit may be paid for a covered loss other than loss of life. The amount paid will equal the actual expenses incurred for rehabilitation training. This benefit will not exceed the lesser of $10,000 or 10% of the principal sum. The expense must be incurred within two years after the date of the accident.

Adaptive Home/Auto Benefit

If a covered loss results in a physical disability that incurs expenses necessary to modify the person’s home and/or car, a benefit amount equal to the lesser of 5% of the Principal Sum or $5,000 of actual expenses is payable.

Repatriation Benefit

If a covered accidental death occurs outside of the insured person’s state or country of permanent residence, an additional benefit equaling the actual expenses incurred will be paid for the preparation and transportation of the body to the place of burial or cremation. The benefit will not exceed the lesser of $25,000 or 10% of the principal sum.

Burn Disfigurement

If a covered loss causes an insured to suffer a disfigurement due to burns, covering at least 10% of the body, an additional benefit equal to the lesser of 10% of the Principal Sum or $25,000 will be payable.

Elder Care

If an insured’s death is the result of a covered accident and that insured’s elderly relative (other than a spouse) was dependent on the insured for support and maintenance, a benefit equal to the lesser of 5% of the Principal Sum or $5,000 will be payable.

Common Disaster

If both you and your spouse die within one year of same or separate accidents that occurred within the same 24-hour period, in addition to the benefit payable for loss of life for each, the insured spouse benefit amount for loss of life will be increased to 100% of the member’s Principal Sum if the member and spouse are survived by one or more eligible children and the combined member and spouse Principal Sums do not exceed $500,000.

Please refer to the Certificate of Insurance for certain limitations and conditions on these benefits.

This is a brief description of the principal provisions and features. The complete terms and conditions including features, costs, eligibility, renewability, limitations & exclusions are set forth in the group policy issued by New York Life Insurance Company to the National Association of REALTORS. A Certificate of Insurance summarizing your benefits will be sent upon approval of your application. NAR is compensated in connection with this sponsored group coverageto provide and maintain this valuable membership benefit.
The NAR Group Accidental Death and Dismemberment Insurance Plan is underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010, under Group Policy No. G-31003-0/1 on Policy Form GMR-FACE. NEW YORK LIFE and the NEW YORK LIFE Box Logo are trademarks of New York Life Insurance Company. 

New York Life is licensed/authorized to transact business in all of the 50 United States, the District of Columbia, Puerto Rico and Canada. Not all group plans it underwrites are available in all jurisdictions. New York Life’s state of domicile is New York, and NAIC ID3 is 66915.

*This coverage is available only for residents of the U.S. (May not be availaible in all States and Territories)

SMRU: 5034092.3

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